VivoPower Approves Development of 55 MW Solar Farms for Dogecoin and Litecoin Mining

VivoPower’s Board has approved its subsidiary Caret Digital to develop up to 55 megawatts of solar farm assets for mining Dogecoin and Litecoin. This move aims to utilize renewable energy in crypto mining, aligning with global sustainability trends.

According to estimates, the project will enable the mining of up to 500,000 DOGE and 1,200 LTC per month using clean energy. It is expected that the project will reduce CO2 emissions by 70% compared to traditional mining methods.

VivoPower plans to invest $25 mln in the construction and launch of the solar farms. The project will also create over 150 jobs in the region and strengthen the company’s position in the rapidly growing cryptocurrency sector.